Torben Straight Nissen took over the reins of Repertoire Immune Medicines at the tail end of 2022, at a time when the Cambridge company was in need of a reset. Nissen’s arrival coincided with Repertoire’s decision to scrap its two lead drugs and lay off 65 people when Phase 1 trials against melanoma and tumors involving HPV-16 didn’t pan out.
But during that difficult period in the industry, when many biotechs that encountered challenges were forced to shut down rather than pivot, Repertoire appears to have found a new way forward.
On Monday, Repertoire announced a multi-year collaboration with Bristol Myers Squibb to develop tolerizing vaccines for up to three autoimmune diseases. Repertoire will receive a $65 million upfront payment, and up to $1.8 billion for hitting development, regulatory and commercial milestones, in addition to tiered royalties.